Valley National Bancorp (NASDAQ:VLY) finished Thursday with a subtraction of -$0.16 to close at $9.90, a downside of -1.59 percent. An average of 2,335,480 shares of common stock have been traded in the last five days. There was a fall of -$0.11 in the past week, and it reached a new high 6 times over the past 12 months. The last 20 days have seen an average of 4,845,780 shares traded, while the 50-day average volume stands at 4,447,314.
VLY stock has increased by 20.58% in the last month. The company shares reached their 1-month lowest point of $7.83 on 07/11/23. With the stock rallying to its 52-week high on 02/03/23, shares of the company touched a low of $6.39 and a high of $13.07 in 52 weeks. It has reached a new high 5 times so far this year and lost -12.47% or -$1.41 in price. In spite of this, the price is down -24.25% from the 52-week high.
Insider Transactions
VLY stock investors should be aware that Valley National Bancorp (VLY) stock had its last reported insider trading activity 171 days ago on May 22.
Valuation Metrics
Valley National Bancorp (VLY) has a trailing price-to-earnings (P/E) ratio of 8.04. The stock’s beta is 1.15. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.85, the price-to-book (PB) ratio at 0.80, and the price-to-cash flow ratio at 4.33.
The company has a payout ratio of 38.50%. The company’s most recent quarterly dividend payment was $0.11 a share, without any change from last year. Its latest decrease dividend $0.0525 reported on Tuesday November 19 2013.
Financial Health
Further, the company has a long term debt to equity ratio of 0.13 and a total debt to equity ratio of 0.13 for the recent quarter. Its gross profit as reported stood at $1.66 billion compared to revenue of $1.98 billion.
Earnings Surprise
For the recent quarter, Valley National Bancorp had $56.93 million in total debt. At the end of the recent quarter, Valley National Bancorp’s stock balance sheet showed total debt was $4.01 billion. Shareholders own equity worth $507.63 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Valley National Bancorp (VLY) price momentum. RSI 9-day as of the close on 10 August was 55.36%, suggesting the stock is Neutral, with historical volatility in this time frame at 24.03%.
As of today, VLY’s price is $10.09 -1.10% or -$0.11 from its 5-day moving average. VLY is currently trading +16.88% higher than its 20-day SMA and +3.99% higher than its 100-day SMA. However, the stock’s current price level is +28.07% above the SMA50 and -11.21% below the SMA200.
The stochastic %K and %D were 61.40% and 71.40%, respectively, and the average true range (ATR) was 0.35. With the 14-day stochastic at 46.30% and the average true range at 0.36, the RSI (14) stands at 59.62%. The stock has reached -0.01 on the 9-day MACD Oscillator while the 14-day reading was at 0.01.
Analyst Ratings
Hovde Group downgraded Valley National Bancorp (NASDAQ: VLY) to a a Market perform rating in its most recent analyst report. Previously, the stock was rated as an Outperform. The consensus rating for Valley National Bancorp (VLY) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell VLY, while 5 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 6 others rate it as a “buy”.
What is VLY’s price target for the next 12 months?
Analysts predict a range of price targets between $8.00 and $12.00, with a median target of $11.25. Taking a look at these predictions, the average price target given by analysts for Valley National Bancorp (VLY) stock is $11.00.
